Institutional investors purchased a net $13.7 million shares of APPA during the quarter ended December 2012. This may signal that the smart money is gaining interest in this company as the 75.96% of shares outstanding that institutional investors hold is actually below the Industrial Specialties industry average.
| Other institutional | 61.21% |
| Individual stakeholders | 23.35% |
| Mutual fund holders | 14.75% |